Arab Finance: ShuanFeng, a Chinese company specialized in ready-made garments manufacturing, plans to develop a factory in Qantara West Industrial Zone, with total investments of $8 million (EGP 388 million), according to a statement.
Spanning an area of 20,000 square meters, the project will be fully self-financed.
Waleid Gamal El-Dien, Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), signed the contract with Yu Jin Xue, owner of ShuanFeng, at the authority's headquarters in the New Administrative Capital (NAC).
The project will create approximately 2,000 direct job opportunities, aiming to produce 16.5 million pieces annually. The full production will be 100% exported.
Gamal El-Dien affirmed that SCZONE is a distinctive investment destination that now embraces projects from six countries, thanks to its strategic location and integrated infrastructure.
He added that the facility enhances the industrial integration in the textile sector, which contributes to establishing a competitive industrial base capable of serving both regional and global markets.
Moreover, Gamal El-Dien highlighted that this deal brings the total number of projects in Qantara West Industrial Zone to 38 projects, with combined investments of about $1.008 billion. Spanning a total area of 2.382 million square meters, these projects provide more than 54,700 direct job opportunities.
This reinforces Qantara West’s role as a regional hub for textiles and garments, supported by the skills of Egyptian labor and the competitive advantages offered by SCZONE, according to Gamal El-Dien.